Southern Networks Limited’s announcement of financial results for the year ended 30th June, 2011

October 6, 2011   Financial Results   No comments

Karachi: We have to inform you that the Board of Directors of our Company in their meeting held on 0510.2011 at 03:00 p.m. at M 5-Y, Block-8, P.EC.H.S, Karachi recommended the following:

 

(i) Cash Dividend Nil
(ii) Bonus Shares Nil
(iii) Right Shares Nil

 

 

The financial results of the Company are as follows:

 

2011

2010

Rupees

Rupees
Revenue 60,161,331 53,736,257
Coat of sales and service (excluding depreciation) 51,692,680 44,523,859
———- ———-
Gross profit / (loss) before depredation 8,468,651  9,212,427
Depreciation (relating to cost of sales and services) 17,601,844 18,648,954
 ———-  ———-
Gross profit/ (loss)  (9,133,193)  (9,636,527)
Other Income 19,393,675 2,198,688
———- ———-
10,260,482 (7,437,839)
Administrative expenses 10,272,026 8,643,612
Selling expenses 19,774,814 18,056,144
 ———-  ———-
30,046,840 26,701,756
 ———-  ———-
Operating profit / (loss)  (19,786,358)  (34,139,595)
Financial charges 32,531 7,057,360
 ———-  ———-
Profit/ (loss) before tax (19,318,889) (41,196,955)
Tax expense 629,191 277,959
 ———-  ———-
Profit/ (loss) for the year after tax (20,448,080) (41,474,915)
———-  ———-
Earnings per share – basic (0.41) (0.83)

 

The Annual General Meeting of the Company will be held on Saturday 29th, October, 2011 at 11:30 am. at the registered offlce,5-Y, Block-6, P.E.C.H.S., Karachi.

The Share Transfer Books of the Company will be closed from 23rd October, 2011 to 29th October, 2011. Transfer received at the registered office of the company 48 horse before the meeting will be treated in time for the purpose of above entitlement to the transferees.

For more information, contact:
Abdul Hameed
Company Secretary
Southern Networks Limited
5-Y, Block- 6, P.E.C.H.S.,
Karachi- 75100, Pakistan
UAN: 111 222 333
Tel: (92 21) 4315641-3
Fax: (92 21) 4386948

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